Hans Vestberg has been appointed CEO of American telecom giant Verizon.

This will likely make him Sweden’s best-paid executive of all time.

His closest competition is Inge Thulin, CEO at 3M.

As Hans Vesterberg steps in as CEO of Verizon in August, he will not only redeem himself following his ouster from Ericsson in 2016.

By heading the world’s 18th largest company, the 52-year-old will also become the best-paid Swedish CEO of all time.

Already during his first year at Verizon, as CTO, Vestberg made 85 million Swedish krona ($10 m) in salary, stocks and other compensation – considerably more than Ericsson's current CEO, Börje Ekholm, who raked in about SEK 36 million ($4 m) in 2017.

As CEO, Vestberg should be earning at least as much as Verizon's outgoing CEO Lowell McAdam, who made SEK 156,5 million ($18 million) in 2017.

Verizon's current market cap is $203 billion dollars, roughly nine times the size of Ericcson's.

Bebeto Matthews / AP Photo / TT

Among Swedish top execs today, only Inge Thulin, CEO and chairman of 3M, plays in the same salary league.

Thulin, who has led the adhesives giant since 2012, made SEK 179 million ($20,5 m) last year. However, according to Swedish business daily Dagens Industri, it’s only a matter of time until Vestberg surpasses his compatriot in terms of income.

Another high-earning Swedish executive is Jonas Prising, CEO of Manpower, who made some SEK 105 million ($12 million) last year.

In Europe, the best-paid Swedish CEO of 2017 was Erik Engström, who heads FTSE-listed analytics company RELX Group. He earned SEK 117 million ($14 m) last year.